Overbought

by gbsmith4

I have a habit of confusing “overbought” with “oversold.”  Some sort of financial dyslexia I guess.  Anyway, I’m convinced the market is overbought.  And yes, I have that right.

How do I know?  I use the “giddy” factor.  That is, whenever I get giddy about how damn smart I am at trading, it’s a sure sign to sell.  And that nearly always means the market is extended.  Or, overbought.

I’m now about 10% long, having sold nearly everything into this parabolic rally.  I’ll start buying again on the next pullback.  And there will be a “next pullback.”

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